Rio Tinto Group

The collapse in global iron ore prices isn’t chasing Gina Rinehart away from the red soil of Western Australia that made her a billionaire. Like producers in Brazil and some in China, she can still profit from the metal.

Iron-ore producers have canceled or suspended 22 mining projects since July as prices plunged to a five-year low, which will help to curb or even eliminate a supply surplus, according to Bloomberg Intelligence.